Supply gains contribute to inventory rise in soft housing market: CREB®

Calgary's residential resale housing market continued to exhibit signs of softness last month, according to CREB®.

The real estate board noted in its most recent housing summary that inventory levels continued to rise in May due to an increase in new listings and decrease in sales.

As a result, the benchmark price in the city decreased for the eighth consecutive month to $439,700. May's price represents a 0.3 per cent decline from last month, and four per cent from last year.

For the full report, click here.

Sales dip in Airdrie and Okotoks while Cochrane activity on the rise

Calgary's regional resale residential housing market didn't fare much better than its larger urban counterpart in April, posting sales declines almost across the board, according to CREB®.

Year-to-date sales in Airdrie eased by nearly eight per cent over last year's levels to 405 transactions, but remained higher than long-term averages, the board recently reported in its monthly regional roundup.

Benchmark prices in Calgary's neighbour to the north decreased by three per cent from last year to $363,400, and overall remained more than two per cent below the highs recorded in 2015.

Chestermere's growth reflects growing interest in satellite communities, say officials

The first permanent homes in Chestermere were built he same year the first Star Wars film came out: 1977

Seven movies later, the city's population is approaching 19,500 – with proposed development expected to double that number in the years to come.

"Fantastic cities attract fantastic people," said Mayor Patricia Matthews. "We have this huge body of water that's a great attractor for a lot of people. You get that feel of being out in the country – that retreat moment when you come home."

Surrounding region's housing market to be similarly impacted by sluggish economy: CREB®

The resale residential housing market surrounding Calgary is expected to feel the pinch from a sluggish provincial economy, with prices facing downward pressure from slower sales activity.

In CREB®'s 2016 Economic Outlook & Regional Housing Market Forecast, chief economist Ann-Marie noted Airdrie and the Rockyview and Foothills regions will face similar conditions as that within Calgary.

"The resale residential housing market outside of Calgary will face the same macro-economic influences on housing demand as those within the city in 2016," she said, noting each area will have its own set of circumstances that will influence supply, demand and prices.

Calgary's satellites rank as best places to do business

For the fourth consecutive year, Calgary's satellite communities have been ranked as the top places to do business in Canada.

In its eighth annual Canada's Entrepreneurial Cities report, the Canadian Federation of Independent Business (CFIB) ranked areas around the grouping of municipalities that surround Calgary – including Airdrie, Chestermere and Cochrane – as the best at fostering "entrepreneurial spirit."

Calgary periphery scored 73 out of a possible 100 in the major cities category (population over 150,000), followed by Kelowna (71.4), Edmonton periphery (69.5), Saskatoon (67.7) and Toronto periphery (67.3).

Cycling Calgary's surrounding communities

On the rim of on-street bike lane initiatives in Calgary, more cyclists are looking to transport safe pedal-power to smaller cities around southern Alberta.

Met with controversy by some motorists, Calgary has approved 260 kilometres of on-street, 3.1-metre wide bike lanes to go along with a 550-kilometre pathway system.

While bike lanes may be the trail to two-wheel success in Calgary, many smaller centres are relying on an array of paved and non-paved pathways to accommodate a growing number of free-wheeling travellers.

But while multi-use pathway systems may be an attractive option for recreational riders and casual commuters, hard-core on-street distance riders like Nick Lynem have experienced some road sharing concerns with automobiles.

Calgary's surrounding towns offer plenty for the two-wheeled crowd

Calgary's current push to increase the cycling opportunities has sparked a two-wheeled revolution that's caught fire beyond just the city limits.

Offering a bucket list of amenities, Calgary's satellite communities have used their considerable geographic areas to their advantage, creating cycling networks that have drawn international events such as the Tour of Alberta and Banff Gran Fondo to its borders.
Here's an overview of just some of the opportunities in the region.

Winter is here.

Calgary gets an average of 129 centimetres of snow in a year. While this can be a headache for some drivers and shovellers, it's also an opportunity to head out with the family and explore the winter wonderland in both Calgary and area.

Chestermere council voted 6-1 to become a city Sept. 29.

"This is an exciting historic move for our community and I'd like to thank every single person, and there are many, who took the time to let us know their opinion on this subject," said Mayor Patricia Matthews.

The next step in becoming a full-fledged city involves sending an application  to the Minister of Municipal Affairs for an official title by Jan. 1.